$95,908.00
-1.02%$1,834.16
-0.44%$2.19
-0.93%$599.28
-0.35%$146.78
-0.87%$0.999928
-0.01%$0.175726
-3.25%$0.701092
0.41%$0.245608
-0.97%$1,834.02
-0.36%$95,796.00
-0.98%$3.33
-2.72%$14.26
-2.72%$20.55
-3.28%$0.269528
-1.89%$8.95
0.97%$0.999939
-0.01%$3.09
-2.58%$0.00001299
-3.45%$2,202.64
-0.22%$0.180424
-3.44%$363.17
-5.13%$20.95
0.84%$86.69
-1.45%$4.03
-3.08%$1,834.00
-0.52%$1.00
-0.05%$277.97
-1.55%$4.37
-1.47%$1.001
0.01%$28.82
-0.53%$0.58349
-2.14%$95,874.00
-1.12%$1,955.89
-0.26%$0.0000082
-5.64%$5.19
-4.61%$1.05
-0.00%$354.30
-5.46%$51.24
-0.45%$5.10
-2.93%$2.43
-3.38%$1.00
0.00%$0.876561
-4.90%$178.03
1.83%$21.72
-0.19%$16.64
-3.31%$4.73
-5.24%$0.094975
-6.95%$0.089782
-2.27%$0.72924
-0.93%$30.51
-3.89%$4.59
-5.31%$11.33
-14.43%$0.02614625
-4.68%$1.001
-0.05%$1.17
0.02%$0.230111
-3.92%$95,681.00
-1.17%$4.22
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-3.97%$4.10
-0.57%$0.320062
-5.53%$95,694.00
-1.04%$0.998835
0.02%$10.74
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-7.32%$1,506.11
-4.13%$0.432433
-6.52%$1.24
-0.67%$83.94
-1.39%$0.01902659
6.18%$153.92
-0.78%$0.772985
-6.29%$0.073641
-4.47%$0.679137
-4.71%$1.70
-4.29%$1,833.55
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0.75%$1.088
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-0.43%$0.574946
-11.53%$1.00
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-0.04%$0.999782
-0.07%$0.093442
-4.81%$599.15
-0.40%$2,080.98
-0.42%$14.17
7.10%$3,254.33
0.04%$1.00
-0.01%$0.01605153
-4.56%$0.207404
-3.70%$3,259.29
0.15%$2.67
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-0.86%$96,020.00
-0.87%$162.16
-0.87%$96,164.00
-0.54%$0.824821
-4.13%$95,632.00
-0.54%$36.89
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-3.32%$3.82
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0.02%$3.08
6.53%$1.99
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1.04%$0.998282
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-5.29%$1.11
0.30%$1,919.53
-0.38%$0.557496
-2.29%$36.18
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-0.01%$0.635232
-6.04%$0.141683
-5.93%$0.00551039
-1.80%$98,398.00
0.00%$0.0088033
-5.99%$0.998671
-0.07%$0.523632
-6.62%$1,920.01
-0.23%$0.41358
-3.02%$95,782.00
-1.07%$0.612736
-4.58%$0.066202
0.80%$7.20
-11.07%$0.999888
-0.01%$16.39
-7.34%$110.92
0.00%$93,547.00
-1.31%$0.421753
-2.54%$0.181918
-7.73%$0.181327
-3.69%$0.175936
-2.96%$1.27
-2.98%$95,494.00
-1.28%$0.00002168
-4.98%$0.00000042
-0.67%$5.85
-4.96%$1,833.30
-0.52%$1.49
-3.25%$0.131206
-8.71%$1.084
0.00%$0.999572
-0.02%$0.422297
0.35%$0.502609
-8.02%$1,834.05
-0.46%$0.00755522
-5.09%$2.46
-5.72%$1,951.73
-0.46%$0.04041391
-4.92%$0.073634
-6.79%$0.23015
-3.86%$3.15
-7.46%$1.50
-8.52%$1,835.53
-0.43%$0.080851
-8.28%$0.369585
-9.44%$22.01
-0.71%$1,835.13
-0.10%$40.05
-4.13%$1.36
-4.72%$0.03566673
-3.27%$32.11
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-0.21%$0.547941
-2.57%$0.172716
-3.82%$0.131606
0.24%$0.01785753
-0.83%$0.360221
-3.97%$0.00398577
-2.78%$1,879.99
0.12%$1.00
-0.03%$0.797734
-2.22%$0.00479015
-12.93%$0.0000598
-5.64%$0.999764
-0.13%$0.702704
-4.19%$1.00
-0.00%$0.999823
-0.04%$0.690376
-5.16%$0.3099
-4.53%$95,843.00
-0.95%$20.94
0.56%$0.00000145
-0.62%$1,829.99
-0.15%$0.261376
-12.52%$110.97
-2.10%$20.55
-3.30%$0.136024
-1.40%$0.228652
-5.05%$95,746.00
-1.24%$2.50
-7.84%$0.00275414
-8.55%$22.50
-5.00%$0.198589
-5.24%$1.00
0.03%$3,241.51
-0.03%$1,942.40
-0.39%$0.464464
-4.81%$1.00
0.09%$0.266572
-0.80%$2.83
-0.23%$0.03099385
-9.41%$0.03769022
-1.24%$0.520582
-3.45%$1.098
0.12%$0.00342825
-1.00%$3.13
-7.84%$3.09
-2.32%$0.00280888
-10.46%$1,925.16
-1.08%$15.03
-4.37%$2,012.39
-0.48%$0.999872
-0.08%$1,998.15
-0.52%$0.01240023
-5.26%$0.999537
-0.01%$95,804.00
-1.12%$1.47
0.87%$1,832.71
-0.49%Reading
Litecoin founder Charlie Lee has criticized the decentralized financedecentralized finance (DeFi) industry, calling it the “worst of both worlds.” His critique comes after a trader exploited several DeFi protocols to take home a staggering $1 million—in just two trades.
This is why I don't believe in DeFi. It's the worst of both worlds. Most DeFi can be shut down by a centralized party, so it's just decentralization theatre. And yet no one can undo a hack or exploit unless we add more centralization.
So how is this better than what we have now? https://t.co/F1HMSeqb6q
— Charlie Lee [LTC⚡] (@SatoshiLite) February 16, 2020
As Decrypt reported, the trader used a clever set of instructions—all executed in one big transaction—to exploit the existing DeFi ecosystem. And then did it again.
After the operation, bZx, which maintains the Fulcrum protocol, posted an update stating that it will use an “admin key” to remedy the situation—exposing that the supposedly decentralized protocol isn’t decentralized at all.
A trader has again exploited a number of decentralized finance (DeFi) tools, to take home a large amount of Ethereum (ETH). After netting $350,000 on Valentine’s Day, he or she has now taken a further $645,000—a total just shy of a million dollars. The theft happened in the same way. A clever set of instructions—all executed in one big transaction—enabled the trader to leverage current weaknesses in the DeFi ecosystem for their own gain. By using several decentralized financial tools, and a smal...
Charlie Lee echoed this exact concern. He said that, if most DeFi can be shut down by a centralized party, then it’s just “decentralization theatre.” At the same time, he noted that undoing a hack or exploit always requires centralization, making DeFi no better “than what we have now.”
But his comments were controversial. Several users pointed out that there are many different DeFi projects and he shouldn’t judge all of them by a few—or one, in this case—examples. Most commenters also acknowledged that DeFi is still a nascent technology experiencing its growing pains. But at the end of the day, with $1 billion on the line—DeFi must do better.
Developers working on Ethereum are about to finalize two complementary standards that could solve one of the network's persistent user experience problems: how to clearly point to addresses across different chains. "Users and apps need ways to unambiguously refer to an address on a specific chain," Wonderland, a multi-protocol team contributing to Ethereum and other decentralized networks, explained. Right now, "there's no standard way for wallets, apps, or protocols to interpret or display thi...
The promise of free crypto in exchange for your biometric data is now live in the U.S., courtesy of World, the eyeball-scanning project co-founded by OpenAI CEO Sam Altman. It announced Wednesday that it is officially rolling out its orbs in six major American cities: Atlanta, Austin, Los Angeles, Miami, Nashville, and San Francisco. While it toured its orbs around the U.S. in earlier promotional efforts, it stopped short of offering full services stateside. The U.S. debut for World, formerly kn...
Cryptocurrencies have failed to deliver on their promises, cryptography pioneer Adi Shamir suggested at the RSA Conference in San Francisco, California, on Tuesday. "My personal opinion is that the world would have been better without cryptocurrencies," he told attendees of an expert panel at the conference, per an initial report by The Register. Shamir, co-inventor of the RSA encryption algorithm, was unequivocal about his position. While praising Satoshi Nakamoto's seminal whitepaper on Bitco...
